New Research Reports

Key player in the niche oligopolistic market

Patanjali Foods acquired Patanjali Ayurved's HPC business for Rs 11bn. It expects to close the transaction by 15 Aug 2024

We initiate coverage on City Union Bank (CUB) with a “BUY” recommendation
and a target price of Rs 205, valuing the bank at 1.5x of its FY26E Adj. BV.

Retail Research

Asian markets are trading mixed. The Nikkei is above the 40700 level, with gains across most sectors, led by index heavyweights and technology stocks. Nikkei and Hang Seng are trading higher by 0.18% and 0.08% respectively while Shanghai is trading lower by 0.14%.

We met Vikas Poddar, CFO of Indus Towers (Indus) on 27 Jun’24. Takeaways: 1) Indus remains excited about growth in the tower industry driven by rural expansion by Bharti, and 4G rollout from VIL. It expects a fair share in VIL’s expansion, despite the risk of higher competitive intensity

Solar Industries (SOIL) has developed three new explosives: 1) SEBEX-2 with lethality of 2.01x of TNT. 2) SITBEX-1, a solid thermobaric polymer-bonded explosive. 3) SIMEX-4, a new insensitive explosive formulation.

End of Day Summary

Retail Research

Federal Bank sustained a strong loan growth of 20% y-o-y/5% q-o-q in Q1FY25, despite seasonally a weak quarter and expectation of marginally slowdown in business momentum. Retail advances grew by 25% y-o-y, while wholesale loans grew by 14% y-o-y segment.